Petrol prices to come down by Rs2: Asad Umar

November 30, 2018 (MLN): Finance Minister Asad Umar, in a press conference held on Friday said that the prices of Petrol and diesel will be cut down by Rs 2 per liter.

Kerosene oil price will be reduced by Rs 3 per liter whereas Light diesel oil price will fall by Rs 5 per liter, he further revealed today.

Sales tax and PDL will be reduced to check petrol prices.

Sales tax on diesel reduced from 27.5% to 12% and Sales tax on petrol reduced from 15% to 4.5%.

Furthermore, Petroleum development levy will come down to Rs 6.56 from Rs 8 diesel.

Petroleum development levy cut to Rs 6.15 from Rs 10 on petrol.

Moreover, he mentioned that during the last fiscal year, current account deficit was at $18 billion. He said that economy was not growing and Foreign exchange fell considerably below $8 million because of dollar demand, therefore, rupee was halted artificially.

As of now, the dollar rise has slowed down and Pakistani rupee has recovered to 139/dollar

Copyright Mettis Link News